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TaxTom
TaxTom, Internet Researcher
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I was wondering if anyone might know the value of a 1989 1oz.

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I was wondering if anyone might know the value of a 1989 1oz. Canadian $50 9999 pure gold coin. Thanks!
Submitted: 6 years ago.
Category: General
Expert:  TaxTom replied 6 years ago.
Hello, Can you tell me if this coin is a $50.00 Gold Maple Leaf? Thanks Tom
Customer: replied 6 years ago.

Hi, yes sir, it has the maple leaf on one side and Queen Elizebeth on the other. I have two 1989's and a 1983. They are not in mint condition but are in good condition. My grandpa left them to me.

He also left me two five ounce bars. Do you know were I would be able to cash them in? I bank with Bank of America. Maybe they have a gold dept./building?

The coins, are probably a coin collector shop sale, I am guessing. I am clueless here and appreciate any info you have for me. Thanks a lot. Amos

Expert:  TaxTom replied 6 years ago.

Hell again, The spot price on Gold is currently around $1200 per ounce and you would expect to sell it at discount to a trader at 5 to 10% below this price. So you would sell for between $1080 and $1140 per ounce for the gold bars to a dealer. So each 5 ounce bar would be worth over $5,000. The Maple leaf would have a normal retail value of around $1,300 and would be discounted for its condition but still would be worth no less than 1 ounce of gold. Bank of America shows a precious metals department but I can find no information for them , they may deal only in commodities and not in real assets. Locally the best place to sell gold is larger jewelry stores. I would still contact your bank for recommendations locally. Absolutely never advertise gold for sell in newspapers or online, it is too dangerous. Here is a link to Bloomberg which will give you the market price of gold, look at the bottom of the page under precious metals.

http://www.bloomberg.com/markets/commodities/cfutures.html

Thank You Tom Please click accept.

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